C-PACE accepting applications for clean energy projects in Chester County
The Commercial Property Assessed Clean Energy (C-PACE) program is active in Chester County and accepting applications for clean energy projects.
The Chester County Commissioners approved C-PACE to help owners of commercial, industrial, nonprofit, and agricultural properties with energy and water conservation projects. This program will also allow Chester County commercial property owners to access long-term loans to pay for renewable energy systems, energy-efficient equipment, and fixtures that reduce water consumption.
“C-PACE’s focus on promoting green projects supports our Climate Action Plan goal to significantly reduce greenhouse gas emissions, and specifically to promote sustainable energy and energy-efficiency across the county,” said Chester County Commissioners Marian Moskowitz, Josh Maxwell and Michelle Kichline.
“This program makes it easier for businesses to finance energy-efficient projects and avoid many of the common financing barriers that prevent them from getting projects off the ground. It will also help create even more jobs in an industry that is already growing locally.”
Now that the C-PACE program is ready for applications, Chester County commercial businesses, agriculture interests, and nonprofits, with the aid of private capital providers, will be able to finance their clean energy and water efficiency projects. The C-PACE program will save local businesses money and energy, providing even greater opportunity to those who choose to take advantage of this program.
Chester County selected the Sustainable Energy
Fund to administer the CPACE on its behalf. “Sustainable Energy Fund is proud to offer its 20 years of experience in clean energy lending to Chester County, allowing them to take advantage of this powerful new energy finance tool for bringing investment, jobs, and clean energy to their communities,” said John Costlow, President of Sustainable Energy Fund.
Commercial Property Assessed Clean Energy is a financial tool for property owners to obtain low-cost, long-term financing for energy efficiency, renewable energy, and water conservation projects. C-PACE can facilitate a loan from private capital sources for a project by placing a voluntary special payment on the property’s annual tax bill that repays the cost of the upgrades. Nationally, more than $2 billion has been invested through C-PACE loans. In Pennsylvania, C-PACE investment could help retrofit one of the nation’s oldest building stocks and accelerate growth in a local energy efficiency industry that already accounts for 65,000 jobs.
For more information on program development, program guidelines, and links to the pre-application, visit https://www.chestercpace. org. If you have a project and would like assistance finding a contractor or capital provider, contact SEF at 610-264-4440.